Mar. 16, 2023
As an avid investor and follower of the stock market, I am deeply concerned about the lack of transparency in the data being reported by companies and financial institutions. In recent years, we have seen numerous white-collar crimes committed in the financial industry, leading to financial crises and devastating losses for investors. One of the main reasons for these crimes is the lack of transparency in the data being reported. Many companies and financial institutions have been known to manipulate their financial data in order to make themselves appear more profitable than they actually are. This not only deceives investors but also leads to an unfair advantage for those who have access to insider information such as best execution data. To prevent these crimes from being committed and to ensure the stability of the stock market, it is crucial that we demand more transparency in the data being reported. This means that companies and financial institutions must be required to provide accurate and complete financial data that is easily accessible to the public. This rule can give more oversight and regulation to ensure that companies are following ethical and legal standards when reporting their financial data. With rules such as this in play, we can demand that companies and financial institutions are held accountable for their actions and that they are transparent in their reporting. This means asking questions and doing our own research on what is in our best interest as broker-dealer customers. In conclusion, the stock market needs more transparency in the data being reported in order to prevent white-collar crimes from being committed and leading up to financial crises. It is up to all of us to demand greater transparency and accountability from broker-dealers. Only then can we ensure a fair and stable stock market for all investors. Please allow S7-32-22 to go into effect immediately so we know which broker-dealer acts in our best interest and not theirs, especially while the mess is happening with unrealized losses.